Nostro Reconciliation Officer

ING Group

  • Publication date:

    16 March 2023
  • Workload:

  • Contract:

    Unlimited employment

Nostro Reconciliation Officer


Nostro Reconciliation Officer


Nostro Reconciliation & Post-Settlement Interventions


Head of Back Office Settlements


Geneva, Switzerland




Perform daily cash, FX and MM reconciliation against correspondent or counterparty’s ledger, reconcile internal accounts, and handle breaks until completeness.

Promptly handle settlement topics, mainly compliance and settlement related questions.

Perform all control activities in scope of the department.

Tasks and responsibilities

Nostro Reconciliation

  • Daily reconcile all the accounts with correspondents, and the accounts under the BOS responsibility

  • Identify breaks and suspense bookings, register them in the reconciliation’s tools

  • Allocate breaks and suspense to relevant stakeholders

  • Closely follow-up breaks and suspense completion in accordance with the risk matrix

  • Chase the stakeholders if necessary to ensure smooth completion

  • Daily or monthly report on breaks and suspense booking to internal stakeholders, including the Head of BOS, Head of Finance and CFO


Settlement Interventions

  • Promptly and proactively handle correspondent banking’s questions related to compliance or settlement topics



  • Escalate risk sensitive cases to the Head of BOS and within the NR&PSI team

  • Handle monthly internal control and control campaigns (incl. SOx controls)

  • Make sure internal procedures and group policies comply with compliance and risk procedures



  • Can be involved in project impacting the department

  • Perform User Acceptance Testing


 Internal and external relationship



In regular contact with Front Office (commercial and treasury), Middle Office, other Operation departments (documentary credit, credit administration, central file), and Compliance



Daily exchange with our correspondent banking’s contacts

Required skills


  • Knowledge in cash payment: SWIFT (xml – ISO20022 is a plus), SIC, SEPA

  • Knowledge in MM and FX: spot, forward, swap

  • Knowledge in correspondent banking scheme and cash payment methods

  • Competent level in Excel is compulsory

  • Advanced skills in Excel, SharePoint, data, or programming are a strong plus

  • Knowledge of GTM is a plus



  • Very reactive

  • Well organised

  • Diplomat

  • Analytic

  • Problem-solver

  • Open to change

  • Proactive



  • French: Fluent

  • English: Advanced


Required professional experience and background


  • Bachelor’s degree in economics, business administration, or another relevant sector

  • 4 years of experience in banking industry


Applicants must be eligible to work in Switzerland. Applications not matching all above requirements will not be considered.